Sunday, March 10, 2013

How Fiscal Policy Can Help Battle Climate Change

Efforts to control atmospheric accumulations of greenhouse gases that threaten to heat up the planet are in their infancy. Although the International Monetary Fund is not an environmental organization, environmental issues matter for the organization's mission when they have major implications for macroeconomic performance and fiscal policy. Climate change clearly passes both these tests. 
A new book, Fiscal Policy to Mitigate Climate Change: A Guide for Policymakers, provides practical guidelines for the design of fiscal policies (carbon taxes and emissions trading systems with allowance auctions) to reduce greenhouse gases.

Providing incentives

Not only are these instruments potentially the most effective at exploiting emission reduction opportunities in the near and longer term, but they can also generate for many countries a valuable new source of government revenue. The chapters, written by leading experts, explain the case for fiscal policies over other approaches; how these policies can be implemented; reasonable levels for emissions prices; policies for the forest sector; appropriate policy for developing countries; the most promising fiscal instruments for climate finance; and lessons to be drawn from prior policy experience.

This is essential reading for policymakers in finance and environment ministries in developed and developing countries alike, and others grappling with balancing environmental and development concerns.
Purchase your copy:

Also available to IMF eLibrary subscribers: 

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Fiscal Policy to Mitigate Climate Change: A Guide for PolicymakersFiscal Policy to Mitigate Climate Change: A Guide for Policymakers by International Monetary Fund (IMF)
My rating: 5 of 5 stars

Clearly written book on how taxes and other instruments can help in the battle against climate change by reducing energy-related carbon dioxide emissions (which account for about 70% of projected greenhouse gas emissions). By some of the leading experts in the field.

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